Dynacor: Setting the Course to the Future
MONTREAL, June 19, 2018 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX:DNG) (OTC:DNGDF) (Dynacor or the Corporation) is pleased to publish a summary of its strategic plan to update its shareholders and the market on the steps management is taking to transform the company by 2021 into the leading processor of gold mineralized material produced by artisanal mining, worldwide.
Dynacor’s new corporate mission statement in the strategic plan states “To be an eco-responsible ore processor by establishing and maintaining a true partnership with artisanal gold miners as well as with the local communities wherever we operate around the world”.
The strategic plan is built around three complementary pillars that will allow Dynacor to fulfill its corporate mission. These three goals are described below.
THE THREE GOALS OF THE STRATEGIC PLAN
- Increase Profitability
- Accelerate Growth
- Promote Our Eco-Responsible Business Model
Increase Profitability
A. Implement a specific step-by-step approach that analyzes and continuously monitors and improves the operational efficiency of the Veta Dorada plant, by:
- Increasing the recovery rate;
- Reducing the consumption of chemicals and optimizing chemical and water recycling;
- Automating specific parts of the processing operation; and
- Testing new technologies to reduce costs and increase the efficiency of each operational segment.
B. Further the exploration of the Tumipampa Property in order to determine the full value of this property, by:
- Completing the exploration of the disseminated gold zone and the high-grade gold vein by 2020; and
- Based on the results evaluate different options for the future of the project.
Accelerate growth
Dynacor’s management team is taking the necessary steps to fast track the growth of the company by increasing our ore processing capacity and gold production:
- Firstly in Peru;
- Secondly in other mining-friendly Latin-American countries; and
- Thirdly in other parts of the world.
This strategy for growth will be based on:
- Expanding our current processing capacity at the Veta Dorada Plant;
- Building new ore processing plants;
- Purchasing other plants;
- Entering into partnerships to expand more rapidly; and
- Licensing our business model where DNG does not wish to directly be the operator.
Dynacor is planning to have one new plant operating by the end of 2021 and a 2nd plant in the pipeline.
Promote our Eco-Responsible Business Model
With Investors - by continuing to minimize the issuance of shares and the consequent dilution and by periodically using share buy-back programmes. Profit sharing with investors using a long-term quarterly dividend policy.
With Governments and Non-Governmental Organizations - by increasing their awareness of the advantages of our eco-responsible business model that is being recognized worldwide as a means to significantly lower mercury contamination by ASGM (Artisanal Scale Gold Miners) and support the formalization of this activity.
With ASGMs – our business model has direct advantages for these communities since we:
- Eliminate the need for ASGMs to use mercury and/or cyanide for artisanal processing and they can focus on mining ore directly;
- Support ASGMs with technical knowhow to increase their productivity;
- Target investments to increase ASGM livelihoods and the well-being of their communities.
With our Employees – Dynacor will continue to lead and innovate its HR policies to ensure that we meet industry best standards in terms of working conditions, occupational health and safety .In particular, Dynacor will strive to offer professional training programs to all of its employees. These professional training opportunities will allow the company to promote internally its employees to higher echelon positions.
With the Gold End-Users – under the PX-Impact label with our Swiss partner PX Group we guarantee to our gold end-users a traceability from the artisanal mine to the end product that ensures that the gold they are using has been responsibly sourced from artisanal miners. Furthermore, we guarantee that gold produced in Dynacor’s ore processing facility has been processed without using mercury which has a net benefit for the environment by dramatically reducing the amount of mercury released by artisanal small scale mining activities.
ABOUT DYNACOR GOLD MINES INC.
Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through its government approved ore processing operations. At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2017, Dynacor produced 79,897 ounces of gold and its production guidance for 2018 is 90-94,000 ounces of gold. Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).
FORWARD-LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.
Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF)
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
Facebook: facebook.com/DynacorGoldMines
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For more information, please contact: Dynacor Gold Mines Inc.
| Jean Martineau President and CEO #1105, 625 René-Lévesque Blvd. Dynacor Gold Mines Inc. Montreal, Quebec H3B 1R2 T: 514-393-9000 ext. 228 | Dale Nejmeldeen Director, Investor Relations Dynacor Gold Mines Inc. T: 604.492.0099 | M: 604.562.1348 E: nejmeldeen@dynacor.com |